Bank of Japan Continues Digital Yen Pilot Project After Successful Second Phase
Bank of Japan (BOJ) released a report in which it said that after the successful completion of the second phase of the digital yen pilot project, the authorities decided to continue the program. The second phase of testing of the state cryptocurrency took place between Apri ...
Bank of Japan’s Successful CBDC Test Sets Stage for Pilot Project
Central Bank conducted a 12-month test And it was successful The country is now preparing for a pilot project Bank of Japan (BOJ) shared the results of the second phase of the CBDC concept test.. It lasted a year, from April 2022 to March 2023. At ...
Jeffrey Sachs Predicts State Cryptocurrencies Will Replace the US Dollar in Payment Sphere
According to Jeffrey Sachs, a renowned economics professor and the director of the Columbia University Center for Sustainability, state-backed digital currencies will eventually replace the US dollar in the payment sphere. Sachs emphasized that up to 60% of foreign trade settlements are presently ...
Governor of Bank of Japan Advocates for Integration of Central Bank Digital Currency with Other Payment Methods
Haruhiko Kuroda, the Governor of the Bank of Japan, has expressed his belief that a central bank's digital currency (CBDC) should work in tandem with other payment methods to enhance Japan's financial ecosystem. According to Kuroda, government-backed stablecoins can increase payment convenience f ...